Flexibility is the Answer
If there is a solution, then it lies in flexibility. The survey stated that almost 52% of the respondents cited that flexible work hours and remuneration will aid in appealing to the employees and retain them.
A principal in Hewitt’s Toronto benefits consulting group, John Tompkins, notes that that companies have started to identify the need to support older workers so that they stay in the company.
Simultaneously, organizations also want to encourage Generation X and Y employees to be a part of them. Companies have realized that one specific approach will not solve the problem as the employee population is extremely varied in terms of age. In the current labor market, success will arrive for those employers who would be able to recognize and assemble the diverse needs of their employees.
List of Benefits Companies May Provide
Hewitt’s survey also talks about the companies’ rising interests in providing other flexible preparations like:
- Flexible working hours
- Job sharing
- Work from home
- Vacation buying and selling
- Condensed work schedules
- Help with home technology buying
- Wellness accounts
- Elder care aid
- Unpaid time off for altruistic work
Hewitt suggests employers to implement an ordered approach. Employers must learn to balance their need to have the real talent pool with the realization of their financial state. Workers must understand the importance of what the companies are giving. Due to the labour shortage issue, companies cannot bear losing employees because they are not aware of the whole compensation package.
Cathy Course stated that Hewitt advises companies to go through a procedure to examine their present talent pool. They must also evaluate what their potential labor force needs. Course also stated that organizations must ensure what they want to modify and if that comes under their financial plan without any trouble.
